§ 33-61-102 — Definitions

Colorado § 33-61-102

• Jurisdiction: Colorado
• Title 33: Parks and
• Art.: Production Fees for

Text

As used in this article 61, unless the context
otherwise requires:

(1) Barrel means forty-two United States gallons at sixty degrees
Fahrenheit at atmospheric pressure.

(2) Commission means the energy and carbon management commission
created in section 34-60-104.3 (1).

(3) Executive director means the executive director of the department of
revenue.

(4) Fund means the climate resilient wildlife and land cash fund created in
section 33-61-103 (3)(a).

(5) Gas has the meaning set forth in section 34-60-103 and includes
natural gas liquids.

(6) Gas spot price means the Henry Hub natural gas spot price as reported
by the United States energy information administration or a successor price index
selected by the commission.

(7) MCF means one thousand cubic feet.

(8) MMBTU means one million British thermal units.

(9) Oil has the meaning set forth in section 34-60-103.

(10) Oil spot price means the west Texas intermediate spot price as
reported by the United States energy information administration or a successor
price index selected by the commission.

(11) Producer has the meaning set forth in section 34-60-103.

(12) Production fee amounts means:

(a) For oil, if the average oil spot price for the calendar quarter in which the
fee is being assessed is:

(I) Forty dollars per barrel of oil or less, an amount determined by the
division, with a maximum amount of one cent per barrel of oil;

(II) Greater than forty dollars but less than or equal to fifty dollars per barrel
of oil, an amount determined by the division, with a maximum amount of three cents
per barrel of oil;

(III) Greater than fifty dollars but less than or equal to sixty dollars per barrel
of oil, an amount determined by the division, with a maximum amount of six cents
per barrel of oil; and

(IV) Greater than sixty dollars per barrel of oil, an amount determined by the
division, which amount must only increase at a maximum rate of three cents for
each ten dollars, or fraction of ten dollars, by which the average oil spot price
exceeds sixty dollars per barrel of oil; and

(b) For gas, if the average gas spot price for the calendar quarter in which
the fee is being assessed is:

(I) One dollar and forty cents per MMBTU of gas or less, an amount
determined by the division, with a maximum amount of 0.04 cents per MCF of gas;

(II) Greater than one dollar and forty cents but less than or equal to one
dollar and eighty cents per MMBTU of gas, an amount determined by the division,
with a maximum amount of 0.16 cents per MCF of gas;

(III) Greater than one dollar and eighty cents but less than or equal to two
dollars and twenty cents per MMBTU of gas, an amount determined by the division,
with a maximum amount of 0.28 cents per MCF of gas; and

(IV) Greater than two dollars and twenty cents per MMBTU of gas, an
amount determined by the division, which amount must only increase at a maximum
rate of 0.12 cents for each forty cents, or fraction of forty cents, by which the
average gas spot price exceeds two dollars and twenty cents per MMBTU of gas.

(13) Production fee for clean transit or production fees for clean transit
means the production fee for clean transit imposed by the clean transit enterprise
pursuant to section 43-4-1204.

(14) Production fee for wildlife and land remediation, production fees for
wildlife and land remediation, or fee means the production fee for wildlife and
land remediation imposed by the division pursuant to section 33-61-103 (1)(a).

Legislative History

Source: L. 2024: Entire article added, (SB 24-230), ch. 184, p. 1017, � 6, effective May 16.